Marathon Digital (NASDAQ:MARA) Stock Price Up 3% - What's Next?

Key Points

• Marathon Digital's stock price increased by 3% during Monday's trading, reaching a last traded price of $15.84, despite a significant decline in trading volume compared to its average.
• Several analysts have upgraded their price targets for Marathon Digital, with current consensus at a price target of $24.22 and a consensus rating of "Moderate Buy."
• Recent quarterly earnings reported a significant beat, with $1.84 EPS against expectations of ($0.29), and a year-over-year revenue increase of 64% to $238.50 million.

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) traded up 3% on Monday . The stock traded as high as $16.21 and last traded at $15.84. 12,051,341 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 42,047,531 shares. The stock had previously closed at $15.38.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald upped their target price on shares of Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a report on Thursday, April 24th. JPMorgan Chase & Co. raised shares of Marathon Digital from a "neutral" rating to an "overweight" rating and upped their price target for the company from $19.00 to $22.00 in a report on Monday, July 28th. Macquarie upped their price target on shares of Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Piper Sandler upped their price target on shares of Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $24.22.

Marathon Digital Stock Up 0.1%

The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 14.15 and a beta of 6.24. The stock's fifty day simple moving average is $16.58 and its two-hundred day simple moving average is $15.14. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $2.13. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The business had revenue of $238.50 million for the quarter, compared to analysts' expectations of $212.25 million. During the same quarter last year, the company earned ($0.72) EPS. The company's revenue for the quarter was up 64.0% compared to the same quarter last year. On average, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Transactions at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total transaction of $536,897.60. Following the transaction, the chief executive officer directly owned 3,946,504 shares of the company's stock, valued at approximately $77,035,758.08. This trade represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $19.05, for a total transaction of $661,644.60. Following the sale, the chief financial officer owned 324,572 shares in the company, valued at $6,183,096.60. This trade represents a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,680 shares of company stock worth $2,912,651. Corporate insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp increased its stake in Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after purchasing an additional 683 shares in the last quarter. CX Institutional grew its position in Marathon Digital by 12.6% during the second quarter. CX Institutional now owns 6,698 shares of the business services provider's stock valued at $105,000 after purchasing an additional 749 shares in the last quarter. Archer Investment Corp lifted its holdings in shares of Marathon Digital by 10.9% during the 2nd quarter. Archer Investment Corp now owns 7,650 shares of the business services provider's stock valued at $120,000 after buying an additional 750 shares during the last quarter. Ranch Capital Advisors Inc. lifted its holdings in shares of Marathon Digital by 5.8% during the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider's stock valued at $168,000 after buying an additional 805 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Marathon Digital by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock valued at $304,000 after buying an additional 878 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.

About Marathon Digital

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.